Supports and Resistances for July 1, 2007

Hi all,
The Tenkan came in as expected and hence the crosses have not fallen so far. I expect the crosses to rise today as the Tenkan has not brought about any major changes. The news on the airport also seems to have been forgotten. It should be an interesting day today. With the rate increase expected by the British in this week, expect a lot of volatility this week.Below are the supports and resistances for the JPY crosses for today:-

USDJPY - Important support at 123.05. If that is broken, next support is at 122.75 which is a very strong support and the final major support is at 122.35. On the topside, the resistance is at 123.40 and then at 123.85.

EURJPY - Important support at 166.40. If that is broken, next support is at 165.75 and the final major support is at 164.85. On the topside, the resistance is at 167.00 and then at 167.45.

GBPJPY - Important support at 247.20. If that is broken, next support is at 246.80 and the final major support is at 245.90. On the topside, the resistance is at 247.80 and then a major resistance at 248.50.

Happy Trading !!!